The day that Bitcoin became the hurdle rate, managing other people’s money got 10x harder

The risk-reward of sitting with the most saleable good, which does a cagr superior to most VC funds, make the job impossible

Plus, late stage fiat. History clearly shows its mayhem.

“when money dies”, great book, is an example, but there are countless more

Stewarding other people’s capital through the uncertainties, the counter party risk, the volatility… tough gig